Tag Archives | Frequently Asked Questions

Calculating the net benefit of an Idaho refinance can be a challenging task if you do not understand what to calculate. We are going to focus on the net benefits of refinancing from the standpoint of lowering your interest rate. Although there are several reasons to refinance, lowering your Idaho mortgage rate to save on […]

Simply checking online for today’s posted rate may not lead to your expected outcome due to the many factors that can cause each individual rate and closing cost scenario to fluctuate. We can preach communication, service and education all day long, but it’s our ultimate goal to earn your trust so that you can be […]

How much Idaho mortgage money can I qualify to borrow? This is typically the number one question Idaho mortgage professionals are asked by new clients. Of critical importance when considering Idaho mortgage financing: There is sometimes a difference between what a client ***can*** borrow and what they ***should*** borrow. In other words, what makes for […]

Although every situation is unique, it is not uncommon for home buyers to qualify for a mortgage on a new home while still living in their primary residence. Perhaps you are outgrowing your current house, or have been forced to relocate due to a job transfer? Regardless of the motivation for keeping one property while […]

Most people are surprised to learn what appraisers actually look at when determining the value of a real estate property. A common misconception homeowners generally have is that the value of their home is determined after the appraiser has completed their physical property inspection. However, the appraiser actually already has a good idea of the […]

Hey, I gave my real estate agent a $5000 Earnest Money Deposit check… Where does that money go? A basic and very obvious question that most First-Time home Buyers ask once their purchase contract gets accepted. When a buyer makes an offer to buy residential real estate, he/she generally signs a contract and pays a […]

By including title insurance when purchasing property, your title insurer takes on accountability for legal expenses to defend your property title, should it ever be challenged. Many different occurrences can come into play to warrant the need for title insurance. The title company responsible will then take on the legal expenses to defend the property […]

For homeowners interested in making some property improvements without tapping into their savings or investment accounts, the two main options are to either take out a Home Equity Line of Credit (HELOC), or do a cash-out refinance. According To Wikipedia: A home equity line of credit is a loan in which the lender agrees to […]

Why is there such a difference between what my appraised value is and the price similar homes are selling for on my street? It’s a great question, and you don’t have to be a mortgage professional or a real estate agent to understand the answer. The distinction lies in the purpose of the two valuations […]

It’s obviously easier to picture the process of estimating value on an existing property in a neighborhood that has a history of home sales, but the task of determining the value on new construction projects does pose some challenges. Appraisals on homes that haven’t been built yet generally require the contractor and home buyer to […]

Rick & Jane May

Hi, we are Rick & Jane May and we are mortgage consultants in the Boise, Idaho area and I specialize in Idaho FHA Reverse Mortgages, Idaho First Time Home Buyer Loans, Idaho FHA Streamline Refinances, Idaho 100% VA Loans. Our goal with this Idaho mortgage blog is to educate and inform our clients about the various loan programs available on the market today. Feel free to look at our Mortgage Calculator Idaho